Most people will choose a new vehicle based on price, style, and the current needs of their family. Often, some pretty important information is overlooked. If you are in the market for a new car, or even a pre-owned one, here are five important points to consider.
How Long Do You Intend to Keep It?
Deciding how long you will keep your next car can help you in several ways. It can help you determine if you should lease or buy and for how long. You can imagine how your family will look over that period and if you will likely sell, trade, or hand the car down to a new driver in the family. Remember, if you have an 11-year old and plan on keeping a vehicle for five years, this car could also be a candidate to be their first car.
How Well Will It Hold Its Value?
Cars that have been on the market for any length of time have a history and a resale value that can be predicted. Obviously, you would like a car that retains more of its value, even if the original price is a bit higher. Some brands are also noted for better maintaining their value. A little research can go a long way.
We all want to protect our families, and how a vehicle performs in routine car safety tests can help make that determination. Not every make and model is tested every year, but some due diligence should help.
You will fill that tank up plenty of times over the time you own that car. Even a few miles per gallon can have a significant impact on the cost of ownership over that period. Do a little math and you will see a small difference in MPG can make a huge difference to your wallet.
Car Insurance Costs
Before you sign on the dotted line, verify the cost of insuring that vehicle with your independent agent. You don’t want an unpleasant surprise after making your purchase.
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